ib-economics-quantitative

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Question 15.1An extract from the balance of payments figures for Country Y is shown below:LineBalance of Payments figures for Country Y[millions of dollars](Credits +; debits -) 2011Current account1 Exports of goods +387,8002 Imports of goods -661,2003 Balance of Trade in goods ?4 Exports of services 162,8005 Imports of services ?6 Balance of Trade in services +40,4007 Income receipts (investment income) 276,5008 Income payments (investment income) -243,4009 Net income receipts (net investment income) ?10 Current transfers, net -38,50011 Net income flows -5,40012 Current Account Balance ?13 Capital Account14 Capital account transactions, net 13015 Financial Account16 Direct investment, net 105,88517 Portfolio investment, net ?18 Reserve assets funding 21,18519 Errors and omissions 26,50020 Capital and Financial Account Balance ?i. Showing your working, fill in the six missing values in the table, indicating whetherthey are credits (+) or debits (-) to the accounts.Produced by Ian Dorton & Jocelyn Blink Page 69
Topic 16 – Terms of TradeYou need to be able to: Calculate the terms of trade using the equation:Calculating the terms of trade using the equation:The terms of trade is an index that shows the value of a country‟s average export pricesrelative to their average import prices. If you are asked to calculate the terms of trade, yousimply place the figures you are given in the equation for the terms of trade shown above.E.g.You may be asked to find the Terms of Trade for Year 3. In that case, you use theequation as below, dividing the index of average export prices by the index ofaverage import prices and multiplying by 100.YearIndex ofAverage ExportPricesIndex ofAverage ImportPricesCalculationTerms of Trade1 100 100 1002 102 1003 106 104 100 101.924 110 1105 108 1066 106 108Now you have a go!!Question 16.1i. Using the data in the table above, calculate the terms of trade for years 2, 4, 5 and 6.ii.Descr<strong>ib</strong>e the change in the terms of trade between years 4 and 5. What does thismean about the buying power of exports?iii. How does the buying power of the country‟s exports in Year 6 compare with Year 1?Produced by Ian Dorton & Jocelyn Blink Page 70
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IB HIGHER LEVEL ECONOMICSQUANTITATI
Page 3 and 4:
Topic 1 - Linear Demand and Supply
Page 5 and 6:
Have you fully labelled the axes?Ex
Page 7 and 8:
Now you have a go!Question 1.2On th
Page 9 and 10: Question 1.5On the graphs below, pl
Page 11 and 12: Topic 2 - ElasticitiesPrice Elastic
Page 13 and 14: Cross Elasticity of Demand (XED)You
Page 16 and 17: Topic 3 - Specific Taxes and Subsid
Page 18 and 19: Now you have a go!Question 3.1In th
Page 20 and 21: Substitute $4 as P in either equati
Page 22 and 23: SUBSIDIESPlot demand and supply cur
Page 24 and 25: The original producer surplus was t
Page 26 and 27: 2400 = 600PP = $4Substitute $4 as P
Page 28 and 29: Topic 4 - Price ceilings and price
Page 30 and 31: Now you have a go!Question 4.1In th
Page 32 and 33: Step 3Calculate from the diagram th
Page 34 and 35: Marginal product =In the table abov
Page 36 and 37: E.g. The firm below has revenues ba
Page 38 and 39: E.g.(2) The firm below has the foll
Page 40 and 41: ) Firm BQuantity Price AVC ATC300 $
Page 42 and 43: Produced by Ian Dorton & Jocelyn Bl
Page 44 and 45: Topic 12 - Comparative AdvantageYou
Page 46 and 47: Now you have a go!!Question 12.1Usi
Page 48 and 49: 1. Add the world supply curve if fo
Page 50 and 51: 3. Calculate the amount of revenue
Page 52 and 53: Now you have a go!!Question 13.1In
Page 54 and 55: Question 13.3In the market for bott
Page 56 and 57: i. Make a table to show the demand
Page 58 and 59: Topic 15 - Balance of paymentsYou n
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